Tuesday, October 20, 2009

My trading Journal 20 Oct 2009

Here's my trading journal for the past two weeks
12 - 14 Oct, I focused on intraday trading.
15 - Because of the strong uptrend I did the switching and managed to recover the loss.

I expect the market will not make significant move today, but anything can happen as GJ won't be friendly to me many times already. I may have to reconfirm this with scheduled economic news later this afternoon. Can't be sitting on the comfort zone longer than 6 hours in forex if you focus on intraday trades, unless you will see the float balooning very fast

Read more ...

Thursday, September 10, 2009

Diagonal? Here it is

I'm not an English speaker,, so I have to keep this term in my trading journal as reference. Remember, I'm learning EW now ;^)...


A 45 degree angle offset from either 0 degrees or 90 degrees 

In a polygon, a diagonal is a line segment connecting two nonadjacent vertices. A diagonal is also a horseback riding term used in posting. Your diagonal is when you rise and fall while posting on either the outside or inside leg of the horse.


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Wednesday, September 9, 2009

GBPUSD ~ does this make sense?

I kinda interested with my new study on EW, so here I try to come up with my own reading on market chart once again.

The reading based on h1 chart, today.

One thing still puzzled me by the way, why on earth I keep on ending my reading on a complete wave??? Someone has to criticize me on this.

Back to the reading.

I believe the uptrend won't last longer than tommorow.

If the reading is correct, GU will going down after reaching yesterday high.

Gud luck in your trading

Read more ...

What EW says on h4 chart GBPJPY?

An EW expert wrote this phrase, but couldn't remember where I read from

"Try put 12 EW gurus in a room and ask them to make a market review, then they will surely come up with 12 different predictions".

Well, I have nothing to complaint about EW, I'm learning it now.

This is yet another view on GJ based on h4 chart.

The market was on bearish preasure until yesterday. It's on C now, and I wonder why in every reading I ended up with C. Something must terribly wrong with my EW skill.

But nevermind, the market is now in choppy area as I believe (I should believe as I make the reading possible) the pair is making new wave 1. GJ will be down first, before going up again.

Up to you to decide.

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My first Attempt on Elliot Wave

This is my first attempt on Elliot Wave EW, GBPJPY on h1 chart (yesterday trade session). I never used EW in my trading before, and I don't think this method is a must-have in trading. A modest manual trading, in a real sense, can be made out of plain Candlestick and all those bundle mt4 tools (if you use mt4), believe me. Read on to see my commentary

So why the suddent interest?
My trading skills, I must say, is sharpening and it has nothing to do with EW, but by forcing myself to stare upon a plain candlestick most of the time.
But I choose to learn EW since last week.

Because I have time to learn at the moment.
Because I'm sick of some EW gurus keep on swearing by EW as their reasoning and when their prediction fails, they find excuses using EW too.

Some EW experts choose to display a very ambiguous daily prediction. Too ambiguous that even a plain candlestick movement is clearer than those messy waves and subwaves that they drew upon.

And because I love argument in my free time
And if I wanna argue with somebody, I need to understand their language. So I will keep on learning... ha ha..

Opps, I forgot about the chart.

Now I'm reading and making prediction based on the drawn chart. I believe GJ is now on correction wave C, but I couldn't see the diagonal triangle between 5 & C, or maybe I didn't do it right. So if my identification is correct on this 1h chart and another wave is in the making, gbpjpy will be on the rise again in the next few hours.

The target? I can't see any target using EW. But using other common tools, the next target is 157 area.

What if I'm wrong?
Well, I made wrong prediction everyday, ....big deal anyway.

Read more ...

Monday, September 7, 2009

GJ - still going upward

The target is 157 area.

But the movement is weak (slow at the moment)... 

I wonder it can goes even to 154 tonite

Nevertheless, we still have a few hours to see whether GJ can continue upward or reverse the movement. Good luck. 

Read more ...

Friday, September 4, 2009

Look like a retreat now, GBPJPY / GBPUSD

I think there is a slow retreat of the market from now on...

The bottom has been formed on daily chart and if everything goes well, we can see the uptrend from today onward.

Left - GJ's bottom LWP

But this slow process is scarry though, it goes flat maybe all day long, or just swinging around without direction as it likes.

So What the next target like? GJ - the 158 area.

Gud luck anyway

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Wednesday, September 2, 2009

I'm upgrading my blog...

Sorry for any inconvenience for the time being...
I decided to change this dull blog into a more jovial mood with those feed and multicolumns

I think it takes hours to complete.

Thank you for visiting my blog.
The upgrade process is now completed. Thank you for your patience and understanding
3 September 2009 3.35pm

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Tuesday, September 1, 2009

GBPJPY / GBPJPY 01 Sep 2009

These are My Daily trading preference which is valid from 2300GMT - 1100GMT (0600 - 1800, GMT +8)


Overall Bearish Daily Configuration
Strong support at 149.97
Minor resistance at 152.80

My View:
Until the market breaks resistance, it will remain bearish all day long.
My preference for today:
I will open Sell position at 151.26, TP: 149.90, SL: 153.95.

Result: _______


Overall Bearish Daily Configuration
Medium support at 1.6150
Minor resistance at 1.6295

My View:

Sideway at the moment Until the market breaks resistance, it will remain bearish all day long.

My preference for today:
I will open Sell 1.6274, TP 1.6150 SL: 1.6385

Result: ________

I will post my trading result tomorrow, wish me pips :^)

Read more ...

GJ / GU mild retracement

I think it is only a market retracement, not recovery. The market retraced upward (about 100pips) since the last 2 hours.

For my account with GU, this means it begins to shows some sanity.

Alright, let me tell you the story on how GBPUSD came about. I never wanted to trade this pair actually and how did I come up trading cable was purely accidental.

It was because the smooth talking EA seller in a forum i joined. And I was stupid enough to bought his martingale's.

The truth is, I was really looking for a reliable EA to maintain three of my small accounts. I bought 3 separate robots for that, and the said martingales is one of them.

I contacted him several times, and getting one instruction after another. He assured that this EA works for him for at least 3 months. (getting sleepy its 3.30am , will continue tommorrow... )

Read more ...

About This Blog

Forex world ~ very interesting and you heard a fairytale every second.

Rag to richest story.

Warrent Buffet's kinda thing.

A scarry money machine, and now you decided to join in...

So welcome to the club!

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